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1/04/19
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Sunflower Plaza, a 27k sf shopping center subject to a 30-year ground lease in Santa Ana, sold for $9.54 mil ($353/sf). It was purchased by Sunflower Metro LLC, a company owned by former NBA player, Josh Childress.
Sunflower Plaza sits on 2.66 acres at 3929-3941 S. Bristol St, across the street from South Coast Plaza, one of the highest revenue malls in the United States. Sunflower Plaza is anchored by Bank of the West, Vitamin Shoppe, Panera Bread, Jersey Mike, and Z Pizza.
Fouy Ly with Kidder Mathews represented the seller, Sunflower Plaza Company LP, the original builder of the property, who has owned it since 1979. This is the first time the property has sold in the last 40 years.
Jeff Conti and Mila Babenko with Eyzenberg & Company LLC has secured $7.4 mil in senior financing for the deal. The CMBS loan, funded through Morgan Stanley, has a 20-year amortization schedule.
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